Senate Passes Fast-Track Trade Legislation -- Update

TODAY: May 23, 2015 PUB DATE: May 23, 2015

By Siobhan Hughes WASHINGTON--The Senate on Friday passed major trade legislation that would pave the way for President Barack Obama's signature Pacific trade deal, marking a victory for the Obama administration and Republican leaders in Congress and sending the bill ...

Murray Energy Confirms Layoffs

TODAY: May 23, 2015 PUB DATE: May 23, 2015

By John W. Miller and Timothy Puko Coal miner Murray Energy Corp. on Friday said it would lay off as many as 1,829 workers at mines in Illinois, Ohio and West Virginia. The shedding of over 20% of the workforce ...

Brazil Plans $22.64 Billion in Budget Cuts -- Update

TODAY: May 23, 2015 PUB DATE: May 23, 2015

By Paulo Trevisani BRASÍLIA--The Brazilian government on Friday unveiled budget cuts meant to meet fiscal austerity goals while continuing essential investments, Planning Minister Nelson Barbosa said. The total cut to the 2015 budget amounts to 69.9 billion Brazilian reais ($22.64 ...

Janet Yellen: Fed on Track to Raise Rates This Year--2nd Update

TODAY: May 23, 2015 PUB DATE: May 23, 2015

By Jon Hilsenrath And Jeffrey Sparshott Federal Reserve Chairwoman Janet Yellen said the central bank is on track to raise interest rates this year but will likely proceed cautiously because the job market hasn't fully healed, inflation is low and ...

P&G to Sell Frédéric Fekkai Brand and Salons

TODAY: May 23, 2015 PUB DATE: May 22, 2015

Procter & Gamble Co. will sell its Frédéric Fekkai hair care brand and salons, the latest move by the consumer-products company to focus on a smaller number of core brands. Designer Parfums, whose products include Jean Patou fragrances, and Luxe ...

H-P's Earnings Top Views Despite Revenue Drop--4th Update

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Robert McMillan Hewlett-Packard Co.'s upcoming breakup into two separate companies will cost billions--but there will be $1 billion in cost savings too, the company said Thursday. The storied Silicon Valley institution will formally divide into two public companies by ...

U.S. Sanctions Triggered by Plane Sale to Iran's Mahan Air

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Jay Solomon WASHINGTON--The U.S. took punitive measures against an Iraqi airline and a Syrian businessman on Thursday over the sale of aircraft to a blacklisted Iranian airline, in a case that has sparked concerns that U.S. sanctions are beginning ...

Key House Lawmaker Sends Subpoena to Fed Over 2012 Leak

TODAY: May 23, 2015 PUB DATE: May 22, 2015

House Financial Services Committee Chairman Jeb Hensarling (R., Texas) sent a subpoena Thursday to the Federal Reserve seeking documents related to the publication of details of market-sensitive policy deliberations in October 2012. The subpoena comes almost three weeks after Fed ...

Turkey's Ford Otosan Resumes Production After Labor Protest

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Yeliz Candemir ISTANBUL--Ford Otomotiv Sanayi AS, the Turkish unit of Ford Motor Co. (F) in partnership with Koc Holding AS (KCHOL), said Friday that it has resumed production at its two plants after a brief suspension due to a ...

German Business Confidence Slips

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Nina Adam The Ifo measure of German business confidence weakened for the first time in seven months in May, albeit only slightly, as companies scaled back their business expectations, another sign that growth in Europe's largest economy is losing ...

Malaysia April CPI Rises +1.8% on Year; Below Forecast

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Jason Ng KUALA LUMPUR--Malaysia's consumer price index, the main gauge of inflation, rose 1.8% in April from a year earlier mainly due to costlier alcoholic drinks, healthcare, restaurants, and food, official data showed Friday. The Wall Street Journal's poll ...

WPP's Chinese Unit Buys Singapore Based Marketing Firm 3ree

TODAY: May 23, 2015 PUB DATE: May 22, 2015

LONDON--Advertising company WPP PLC (WPP.LN) said Friday that its Chinese unit, Always Marketing Services, will acquire Singapore based marketing company 3ree for an undisclosed sum. 3ree offers event management, sourcing and production of marketing premiums, project management for exhibitions and ...

UK Treasury Cuts Down Borrowing in April

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Jon Sindreu and Matthew Cowley LONDON--U.K. Treasury Chief George Osborne got off to a bumper start to the fiscal year as a boost in tax receipts in April allowed the government to borrow much less than expected. The public ...

Ann Struggles with Weak Traffic

TODAY: May 23, 2015 PUB DATE: May 22, 2015

Ann Inc. on Friday reported a weaker-than-expected 1.2% increase in sales in its first quarter as the retailer continues to struggle with weak traffic and competition. Profit, excluding special items, topped Wall Street expectations amid expense management. The results come ...

Hong Kong, China to Liberalize Cross-Border Transactions

TODAY: May 23, 2015 PUB DATE: May 22, 2015

HONG KONG—Hong Kong and Chinese regulators signed a deal allowing funds in both markets to be sold to investors on either side starting July 1, potentially allowing billions of dollars of cross-border investments in stocks and bonds. The agreement, known ...

Canada Retail Sales Climbs 0.7% in March

TODAY: May 23, 2015 PUB DATE: May 22, 2015

By Paul Vieira OTTAWA--Canadian retail sales climbed in March at a faster-than-anticipated pace, although on disappointing volumes, led by activity at car dealerships, grocery stores and alcohol outlets. In March, retail sales rose 0.7% to a seasonally adjusted 42.47 billion ...

A Way to Make Big Gifts to Family Without Tax

TODAY: May 23, 2015 PUB DATE: May 22, 2015

Laura Saunders There's nothing crummy about "Crummey" trusts for people planning their estates--as the U.S. Tax Court affirmed in a recent decision. In Mikel v. Commissioner, the court ruled against the Internal Revenue Service and allowed a New York couple ...

Nokia Seeks Higher Bids for Mapping Unit

TODAY: May 23, 2015 PUB DATE: May 22, 2015

Nokia said Friday it was in no rush to sell its mapping services, increasing pressure on a crowd of tech and automobile suitors to raise their bets for an asset seen as an essential piece of technology for the advent ...